Musical Instrument Museum
- Assets
- $157.2m
- Revenue
- $22.4m
- Investments
- $75.2m
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 03/2006
- Data as of
- 12/2022
- EIN
- 16-1743588
Organization Overview
Musical Instrument Museum is located in Phoenix, AZ. The organization was established in 2006. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Musical Instrument Museum is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Musical Instrument Museum generated $22.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $18.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Musical Instrument Museum has awarded 816 individual grants totaling $1,994,890. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE MUSICAL INSTRUMENT MUSEUM (MIM) ENRICHES OUR WORLD BY COLLECTING, PRESERVING, AND MAKING ACCESSIBLE AN ASTONISHING VARIETY OF MUSICAL INSTRUMENTS AND PERFORMANCE VIDEOS FROM EVERY COUNTRY IN THE WORLD. MIM OFFERS GUESTS A WELCOMING AND FUN EXPERIENCE, INCOMPARABLE INTERACTIVE TECHNOLOGY, DYNAMIC PROGRAMMING, AND EXCEPTIONAL MUSICAL PERFORMANCES. MIM FOSTERS APPRECIATION OF THE WORLD'S DIVERSE CULTURES BY SHOWING HOW WE INNOVATE, ADAPT, AND LEARN FROM EACH OTHER TO CREATE MUSIC - THE LANGUAGE OF THE SOUL.PRIMARY ACTIVITIES AND PROGRAMS:GALLERIES AND SPECIAL EXHIBITIONS: MORE THAN 300 DISPLAYS WITH STATE-OF-THE-ART AUDIO-VISUAL TECHNOLOGY IMMERSE GUESTS IN MUSIC FROM OVER 200 COUNTRIES AND TERRITORIES. TEMPORARY SPECIAL EXHIBITIONS DIVE DEEPER INTO MUSICAL TOPICS THROUGH ORIGINAL STORYTELLING. (CONTINUED ON FORM 990-PF, PART VIII-A, LINE 2)
EDUCATION PROGRAMS: PEOPLE OF ALL AGES LEARN THROUGH MUSIC AT MIM. EDUCATION OFFERINGS INCLUDE CHILDREN'S CLASSES THAT SERVED NEARLY 4,000 PARTICIPANTS IN 2022 AND A FIELD TRIP PROGRAM THAT TYPICALLY WELCOMES 70,000 PARTICIPANTS ANNUALLY. WE ALSO OFFER INNOVATIVE VIRTUAL PROGRAMS FOR STUDENTS AND SENIORS.MIM MUSIC THEATER: MIM OFFERS NEARLY 300 CONCERTS YEARLY IN AN INTIMATE, ACOUSTICALLY SUPERB ENVIRONMENT. PERFORMANCES ARE CURATED TO BRING THE GALLERIES TO LIFE, CONNECTING AUDIENCES TO DIVERSE LIVE PROGRAMMING FROM LOCAL, NATIONAL, AND INTERNATIONAL ARTISTS.PUBLIC PROGRAMS: WEEKEND SIGNATURE EVENTS BRING THE COMMUNITY TOGETHER TO CELEBRATE WORLD CULTURES, MUSICAL GENRES, AND ICONIC ARTISTS. MIM SAW AN AVERAGE EVENT PARTICIPATION OF AROUND 1,300 GUESTS OVER EACH TWO-DAY PROGRAM IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
April A Salomon Executive Director | 40 | $276,971 | |
Craig D Culy Cfoo & Treasurer | 40 | $120,077 | |
Robert J Ulrich Chairman | 30 | $0 | |
Richard T Burke Vice Chairman | 1 | $0 | |
Robert G Weston Jr Vice Chairman | 1 | $0 | |
Gail J Dorn Secretary | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sennheiser Electronic Corporation | 12/30/22 | $948,394 |
Openworks | 12/30/22 | $311,965 |
Back To Nature Landcare Inc | 12/30/22 | $184,694 |
Gardaworld Security Services | 12/30/22 | $248,666 |
Prisma Graphic Corporation | 12/30/22 | $127,987 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,578,856 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,927,675 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$954,687 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $635,825 |
| Other Income | $6,252,760 |
| Total Revenue | $22,440,429 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $455,952 |
| Other employee salaries and wages | $4,707,300 |
| Pension plans, employee benefits | $634,592 |
| Interest | $0 |
| Taxes | $364,238 |
| Depreciation | $4,359,876 |
| Occupancy | $1,727,701 |
| Travel, conferences, and meetings | $79,495 |
| Printing and publications | $530,982 |
| Other expenses | $4,787,854 |
| Total operating and administrative expenses | $18,255,197 |
| Contributions, gifts, grants paid | $32,675 |
| Total expenses and disbursements | $18,287,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,143,745 |
| Savings and temporary cash investments | $9,497,926 |
| Net Accounts receivable | $41,377 |
| Net Pledges Receivable | $1,259,754 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $401,953 |
| Prepaid expenses and deferred charges | $324,036 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,473,114 |
| Net Land, buildings, and equipment | $66,541,281 |
| Other assets | $871,320 |
| Total assets | $157,248,315 |
| Accounts payable and accrued expenses | $621,405 |
| Grants payable | $0 |
| Deferred revenue | $467,140 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $248,058 |
| Total liabilities | $1,336,603 |
Grants Awarded
Over the last fiscal year, Musical Instrument Museum has awarded $32,675 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
AVONDALE ELEMENTARY SCHOOL DISTRICT PURPOSE: TRANSPORTATION ASSOCIATED WITH FIELD TRIPS TO MIM | $1,000 |
ALHAMBRA ELEMENTARY SCHOOL DISTRICT PURPOSE: TRANSPORTATION ASSOCIATED WITH FIELD TRIPS TO MIM | $1,000 |
CARTWRIGHT SCHOOL DISTRICT #83 PURPOSE: TRANSPORTATION ASSOCIATED WITH FIELD TRIPS TO MIM | $2,000 |
CHANDLER UNIFIED SCHOOL DISTRICT PURPOSE: TRANSPORTATION ASSOCIATED WITH FIELD TRIPS TO MIM | $3,000 |
DEER VALLEY UNIFIED SCHOOL DISTRICT PURPOSE: TRANSPORTATION ASSOCIATED WITH FIELD TRIPS TO MIM | $500 |
DYSART UNIFIED SCHOOL DISTRICT PURPOSE: TRANSPORTATION ASSOCIATED WITH FIELD TRIPS TO MIM | $2,500 |